Home / Knowledge / News / Textiles / Textile segment sales up 8% at Raymond in Q3FY'13
Textile segment sales up 8% at Raymond in Q3FY'13
23
Jan '13
Raymond Limited announced its unaudited financial results for the quarter ended December 31, 2012.

The standalone Textile segment net sales for the quarter ended 31 December 2012 witnessed an increase of 8% at Rs 554 crore. However, margins have been impacted due to higher input costs and underutilization of capacities.

The Branded Apparel business net sales stood at Rs 184 crore, down by 7% on YaY basis and reported EBITDA of Rs 4 crore as against Rs 29 crore in the corresponding previous quarter. Margins have been impacted due to higher discounted sales and change in channel mix.

Raymond's exclusive retail network across all formats and geographies stood at 914 stores as on 31 December 2012, covering over 1.74 million square feet of retail space. The company added 21 stores during the quarter and closed 9 stores.

The Cotton shirting fabric business has witnessed improved performance during the quarter. Sales stood higher by 24% at Rs 80 crore while EBlTDA was higher by 32% at Rs 12 crore. EBITDA margins improved by 100 bps backed by better capacity utilization.

The Indian operations of Denim business has witnessed 14% sales growth during the quarter to Rs 196 crore, while EBITDA stood at Rs 24 crore, up by 33% compared to the previous year. Margins have witnessed improvement mainly due to export growth and better realizations.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, "The third quarter of the current financial year has been far more challenging. On the one hand margins of our worsted suiting's business have been under pressure due to higher input costs and inflation, our apparel business suffered from high inventory overhang impacting margins. We have put in place various processes and cost improvement initiatives to tackle the same. We are confident that our initiatives will bear fruitful results in the time to come. Despite a tough quarter gone by, we remain confident about the long term consumption demand; and the strategic direction of our business and continue to invest in brand building, retail and in improving operational efficiencies”.

Click here to view entire Q3 results.

Raymond

Must ReadView All

Textiles | On 27th Apr 2017

UL joins ZDHC programme

UL Consumer & Retail Services (CRS), a global safety science company, ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X